Actually how to play forex there are many ways that can be taken by beginners. Forex is a topic of interest as one way of making money on the Internet, because the turnover of transactions in the forex market is very large per day. And with a rotation of that size, there are many ways to get a piece of the big cake, one of which will be discussed below.
First of all that needs to be prepared before you can play in this forex is a set of computers or smartphones and a stable internet connection. That is the main device.
Apart from that, a comfortable and hassle free trading place is also required, because playing forex also requires concentration and should not be up to the press of a button, because it can lead to a loss of money.
Forex trading can indeed be done anywhere, in parks, cafes, bedrooms, even in cars using laptop or smartphone devices and internet connections.
After preparing the hardware device, it is time to set up a trading software tool, such as software with the commonly used Metatrader platform, and this software can be downloaded at each of the forex brokerage companies that you use.
After all the devices and places are ready, then you are ready to play this forex, and just learn how to do it with more depth.
Inside forex trading, it is known that the unit calculation is called the LOT volume unit.
1 Lot in this forex trading contract means $ 100000 (one hundred thousand dollars), and the dollar used is USD as the base currency.
0.1 lot = $ 10000, and 0.01 lot = $ 1000
In the meaning with 1 lot means the same as you transact with the money of $ 100000, so the price movement that changed 1 point (or 1 pip) it will be worth $ 10
Example: the exchange rate of EUR / USD from 1.23450 move to 1.23482 then that means move as much as 3.2 point.
(the number in the last line is called the Cent number, so it goes inside the comma)
so if you use transaction volume of 1 lot then 3.2 point will be worth $ 10 x 3.2 = $ 32
1 lot = worth $ 10 per point
0.1 lot = $ 1 per point
0.01 lot = $ 0.1 per point
First of all that needs to be prepared before you can play in this forex is a set of computers or smartphones and a stable internet connection. That is the main device.
Apart from that, a comfortable and hassle free trading place is also required, because playing forex also requires concentration and should not be up to the press of a button, because it can lead to a loss of money.
Forex trading can indeed be done anywhere, in parks, cafes, bedrooms, even in cars using laptop or smartphone devices and internet connections.
After preparing the hardware device, it is time to set up a trading software tool, such as software with the commonly used Metatrader platform, and this software can be downloaded at each of the forex brokerage companies that you use.
After all the devices and places are ready, then you are ready to play this forex, and just learn how to do it with more depth.
Inside forex trading, it is known that the unit calculation is called the LOT volume unit.
1 Lot in this forex trading contract means $ 100000 (one hundred thousand dollars), and the dollar used is USD as the base currency.
0.1 lot = $ 10000, and 0.01 lot = $ 1000
In the meaning with 1 lot means the same as you transact with the money of $ 100000, so the price movement that changed 1 point (or 1 pip) it will be worth $ 10
Example: the exchange rate of EUR / USD from 1.23450 move to 1.23482 then that means move as much as 3.2 point.
(the number in the last line is called the Cent number, so it goes inside the comma)
so if you use transaction volume of 1 lot then 3.2 point will be worth $ 10 x 3.2 = $ 32
1 lot = worth $ 10 per point
0.1 lot = $ 1 per point
0.01 lot = $ 0.1 per point